: (Offer is higher than what you owe) CarMax pays off your loan and gives you a bank draft for the difference the same day.
, even if you still owe money to a lender . They will coordinate directly with your lienholder to pay off the remaining balance. How the Process Works
: (You owe more than the offer) You must pay CarMax the difference at the time of the sale. will carmax buy a financed car
To facilitate the payoff, you must provide specific information about your loan:
: Name and contact details for your lienholder. : (Offer is higher than what you owe)
: For differences under $250, personal checks are accepted. For larger amounts, you can use cashier’s checks, certified funds, or debit cards.
: A valid driver's license and proof of insurance. Important Considerations What if I owe more on my car than the amount of your offer? How the Process Works : (You owe more
: If you are buying another car from CarMax , you may be able to roll that negative equity into your new financing, subject to approval. What You Need to Bring